BlackRock’s $12.3B AI Data Center Bond for Meta Rallies Before Pricing
Stronger-than-expected investor demand drove the bonds tighter in the gray market, with higher yields attracting buyers despite initial weak interest, contrasting with recent AI bond misfires.
META
BlackRock's $12.3 billion bond deal tied to an AI data center for Meta saw a rally before pricing, signaling robust investor demand. The bonds tightened in the gray market even after initially tepid demand, as higher-than-usual yields drew in buyers.
The rebound stands in sharp contrast to several recent AI-related bond offerings that struggled. This suggests that while investors remain selective, they are not shunning the sector entirely.
Source: First Squawk